San Antonio Officials Propose $7.5M Project Incentive

City staff recommended funding to support a major mixed-use development project near Jones Avenue and Camden Street.

Updated on Oct. 27, 2026 in Remote Work

Isometric editorial illustration depicting a single large steel beam on a concrete surface, representing municipal infrastructure investment in San Antonio. — San Antonio city officials have recommended a $7.5 million incentive package to support McCombs Enterprises' new mixed-use development project near Jones Avenue. AI Illustration. Upload story photo >

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San Antonio officials have recommended a $7.5 million incentive to support a new McCombs Enterprises development project. The initiative aims to fund infrastructure upgrades for a 5.9-acre site located at the intersection of Jones Avenue and Camden Street.

Why it matters

The funding is intended to cover essential infrastructure improvements, including a pedestrian bridge, landscaping, and a public park. These upgrades are designed to support the planned 500,000 square feet of office, retail, and restaurant space.

The proposed development is expected to reach a value of $154 million upon its 2032 completion and climb to $334 million by 2060. The project is projected to generate $80 million in total sales tax receipts over 32 years.

The players

McCombs Enterprises

This is a real estate and investment firm responsible for the proposed development project.

CPS Energy

This is the municipal utility company that previously owned the development site.

The details

McCombs Enterprises purchased the 5.9-acre site from CPS Energy for $29.5 million in 2023 and is currently razing existing buildings. The developer initially requested funding to cover $19.8 million in public improvements and $31.2 million in debt service costs.

McCombs Enterprises purchased the site from CPS Energy in 2023.
City officials recommended the $7.5 million in funding in October 2026.
The two-phase development project is scheduled for completion in 2032.
The Midtown TIRZ is scheduled to expire in 2060.

Market Landscape

The project utilizes the Midtown Tax Increment Reinvestment Zone to finance infrastructure, a common development strategy in urban San Antonio. This mechanism allows the company to leverage future tax growth to offset significant upfront development costs.

The infrastructure upgrades funded by this incentive, such as improved walkways and a new park, are designed to increase accessibility for the local community near the San Antonio Museum of Art. These enhancements will likely alter the pedestrian experience and traffic flow at the intersection of Jones Avenue and Camden Street.

The takeaway

This development represents a long-term investment in the city's commercial core, projected to span decades of growth. Residents can expect significant transformation in the area surrounding Jones Avenue as the two-phase project moves toward its 2032 completion date.